Paras Defence Partners with Israel’s Heven Drones to Build Cargo Drones in India

25 May 2025 , 10:21 PM

Paras Defence and Space Technologies Ltd has signed a joint venture partnership with Israel-based Heven Drones Ltd to establish a new drone company in India. The partnership is seeking to design and manufacture cutting-edge logistics and cargo drones for defence and civilian operations in the country. The new entity is proposed to be named Paras Heven Advanced Drones Private Limited and will be registered in India with an authorised capital of ₹1 lakh.

Paras Defence will own a majority stake of 51% in the JV, with Heven Drones controlling the remaining 49%, facilitating Indian company’s controlling interest in the strategic partnership.

The decision is in consonance with the ‘Make in India’ initiative of the Government of India, and is expected to not only reduce dependency on import of drones, but also assist the country in substituting them with domestically manufactured drones, officials said.

Each of the companies will have two directors on the board of the joint venture and the two partners were granted pre-emptive rights in the event that either company plans any future share issues.

Paras Defence has stated that it has no previous shareholding in Heven Drones or its connected entities and thus, the proposed deal is not a related-party transaction.

Paras Defence and Space Technologies is a defense and space technology company based in India: A leader in optics, optronics, defense electronics, EMP protection and heavy engineering solutions. The company’s range of technologies cover rockets and missiles, space technology, naval systems, ground vehicles, armoured vehicles, electronic warfare, surveillance and electromagnetic shielding.

Paras Defence, through its subsidiaries, is also involved in futuristic technology segments like drones, RF and microwave systems, anti-drone solutions, EO/IR systems (avionics), and quantum communication. Backed by four decades of expertise and a workforce of over 600, Paras Defence provides end-to-end design, development, system integration and commissioning solutions.

The company has a state-of-the-art manufacturing facility and holds the esteemed status of an Indigenous Design, Development & Manufacturing (IDDM) company in the Indian defence system.